Strategic Partnership for North South International Transport Corridor
The delegation from JSC Russian Railways, headed by First Vice-President of the Company Alexander Misharin, took part in the Strategic Partnership 1520: Caspian Region international business forum in Baku, Azerbaijan.
A key theme of the event was the development of the North-South international transport corridor (ITC), which will deliver the goods from India, Iran, and the Gulf states to Russia and Northern and Western Europe twice as fast as the traditional route via the Suez channel.
[quote font_size=”16″]”We are under conditions that are highly competitive with alternative routes and need new solutions responding to the current global challenges,”[/quote] said Mr. Misharin in the opening speech at the forum. The effective development of the Caspian region’s transport infrastructure will have a positive impact on the dynamics of trade, capital flow and investment, and the economic well-being of countries in the region.
[quote font_size=”16″ arrow=”yes”]”Despite the difficult economic conditions, the volume of traffic on the North-South ITC has not only not decreased over the last three years, but it even slightly increased,”[/quote] noted Mr. Misharin.
During the forum, a number of international agreements related to the development of the North-South ITC were signed with the participation of subsidiaries of JSC Russian Railways.
PJSC TransContainer and CJSC Azerbaijani Railways signed a memorandum on cooperation in the development of intermodal transport on the North-South ITC with the use of innovative technologies and combined transport capability. The parties intend to improve the quality of freight transport and export, import and transit traffic, as well as attract additional freight traffic on the North-South ITC with the use of container trains.
JSC Russian Railways Logistics and the Federation of Transport and Logistics Companies of India signed an agreement on strategic partnership devoted to working together to expand business contacts with shippers in India and Russia in order to attract additional cargo and the development of Russian-Indian cooperation logistics.